Term Paper On

Submitted to:
Lalit sir

Submitted by:
RITESH KUMAR ROLL NO: B54 SEC: R1003 REG NO: 11004058

CONTENT
 ACKNOWLEGEMENT  INTRODUCTION  History.  Change in share price over a year.  Capital Structure for last 3 years.  Liquidity position.  Balance sheet.  Profit and loss A/C  Credit Rating of company;  IPO/FPO issues made by company during last 5 years;  Related news relevant to company chronologically and its impact on share price of the company.  Conclusion.  References.

A C K N O W L E G E M E N T
First of all I would like to thank the Lovely Professional University to give me this opportunity to do this project as a part of the M.B.A. Many people have influenced the shape and content of this project, and many supported me through it. I express my sincere thanks to Lalit sir for assigning me a project on Analysing Financial Statement of Maruti suzuki . He has been an inspirational and role model for this topic. Her guidance and support has made it possible to complete the assignment.

I would also like to thank my friends who have helped and encouraged me throughout the working of this project. Last but not the least I would like to thank the Almighty for always helping me. Ritesh kumar

Introduction:Maruti Suzuki is a market leader in cars is listed in bse and nse founded in 1981 head quarter new Delhi, India Maruti is a Indian company but Suzuki is a parent company commands more than 50% cars in india on 17 September 2007, Maruti Udyog Limited was renamed Maruti Suzuki India Limited in which Indian government has a stake of about 18.28% were has Suzuki from Japan has a stake of about 54.2%. Maruti Suzuki India Limited has always believed in highest standards of Corporate Governance. Being a listed Company, every act of the Company, its Board Members and its employees is the focus of public attention and accordingly, there is a need to reinforce Marutis commitment towards maintaining highest standards of Corporate Governance. This Code of Business Conduct and Ethics helps ensure compliance with our standards of business conduct & ethics and also with regulatory requirements. Maruti Suzuki is India and Nepal's number one leading automobile manufacturer and the market leader in the car segment, both in terms of volume of vehicles sold and revenue earned. The BJP-led government held an initial public offering of 25% of the company in June 2003. As of 10 May 2007, Govt. of India sold its complete share to Indian financial institutions. With this, Govt. of India no longer has stake in Maruti Udyog.

History:-

Maruti Suzuki India Ltd., formerly known as Maruti Udyog, is the one of the oldest car manufacturers in India. The company has written 28 years old history in the rich Indian heritage. Maruti Udyogs inception came in the country in 1981 under the provisions of the Indian Companies Act, 1956. During this era, there were only two car models in the name of Indian car industry, Hindustan Ambassador and Fiat Padmini. Later, Maruti Suzuki made a successful move with its ever running Maruti 800 in 1983. With the launch of Maruti 80, Indian manufacturing and car industry saw a new dawn. The early 1990s witnessed an era of liberalization, a period when Indian car market had become a crucial part of the growing Indian economyAs and when time was moving the company was coming up with innovations and advancements. In the year 1991, Maruti Suzuki started cumulative indigenization of nearly about 65% of all its car models and thereafter introduced Maruti Suzuki Zen in 1993. The introduction of Zen and followed by the launch of Maruti Suzuki Esteem in 1994, Maruti Suzuki Baleno and Maruti Suzuki WagonR in 1999, and Maruti Suzuki Alto in 2000. The company also launched another SUV in the Indian market known as Maruti Suzuki Grand Vitara in 2003. After these successful launches by Maruti Suzuki, a world strategic car model, popularly known as Maruti Suzuki Swift, was introduced in 2005. After that company introduced a hot, elegant and one of the most comfortable sedan, christened as Maruti Suzuki SX4, in 2007. This is the entire journey of Maruti Suzuki India since the time of its inception in 1981. Even further Maruti aims to make compact, fuel efficient, lowmaintenance, and light-weight cars better suited to Indian weather and road conditions.

Partner for the joint venture

Sanjay Gandhi owned the Maruti Technical Services Limited, which ran into trouble and was liquidated. After the death of Sanjay Gandhi, the Indira Gandhi government assigned a delegation of Indian technocrats to hunt for a collaborator for the project. Initial rounds of discussion were held with the giants of the automobile industry While the major companies were personally represented in the initial rounds of discussion, Osamu Suzuki, Chairman and CEO of the company ensured that he was present in all the rounds of discussion. Suzuki in return received a lot of

help from the government in such matters as import clearances for manufacturing equipment (against the wishes of the Indian machine tool industry then and its own socialistic ideology), land purchase at government prices for setting up the factory Gurgaon and reduced or removal of excise tariffs. This ensured that Suzuki conscientiously nursed Maruti Suzuki through its infancy to become one of its flagship ventures.

Company >> General >> Background

Maruti Suzuki India Ltd Industry :Automobiles - passenger cars

Incorporation Year Chairman Managing Director Company Secretary Auditor

1981 R C Bhargava

S Ravi Aiyar Price Waterhouse Plot No 1 Nelson Mandela Road, Vasant Kunj, New Delhi, 110070, New Delhi 91-11-46781000 91-11-46150275/6 msilinvestorrelations@maruti.co.in http://www.marutisuzuki.com 5 532500 A MARUTI

Registered Office

Telephone Fax E-mail Website Face Value (Rs) BSE Code BSE Group NSE Code

Bloomberg Reuters ISIN Demat Market Lot Listing Financial Year End Book Closure Month AGM Month

MSIL IN MRTI.BO INE585B01010 1 Mumbai,NSE 3 Aug/Sep Sep Karvy Computershare Pvt Ltd, Plot No 17-24, Vittal Rao Nagar, Madhapur, Hyderabad-500081. 91-040-44655000 91-040-2342081

Registrar's Name & Address

Services offered
Current sales of automobiles
Manufactured locally
1. 800 (Launched 1983) 2. Omni (Launched 1984) 3. Gypsy (Launched 1985) 4. WagonR (Launched 2002) 5. Alto (Launched 2000) 6. Swift (Launched 2005)

7. Estilo (Launched 2009) 8. SX4 (Launched 2007) 9. Swift DZire (Launched 2008) 10. A-star (Launched 2008) 11. Ritz (Launched 2009) 12. Eeco (Launched 2010) 13. Alto K10(Launched 2010)

Imported
Suzuki Grand Vitara 1. Grand Vitara (Launched 2007) 2. Kizashi (Launched 2011)

Share price over a year:8 Apr 11 | 15:56

1,254.20
-24.90 ( -1.95%
)

Stock Price Movements

Day's High / Low Previous Close / Open Wtd. Avg Price Total Traded Value (Cr.) TTQ / 2W Avg Q (Lakh) Circuit Limits Mkt. Cap. Full / Free Float (Cr.) 1,282.80 / 1,250.00 1,279.10 / 1,272.00 1,263.46 4.88 0.39 / 0.77 NA 36,235 / 18,117

Market Depth Buy Qty Price

-----Total 409 ------

Sell

Price 1,253.50 1,253.80 1,254.00 1,254.20 --

Qty 78 1 50 429 -1,109

Current price of one share is 1214.50 High Price Low Price 1227.70 1200.05 52 Wk High 1599.90

52 Wk Low 1145.50 (dated 15 /3/2011)

The Company performance during the year is summarized below:

(Rs. in million) 2009-10 Cross total income 301,198 2008-09 214,538

Profit before tax Tax expense Profit after tax Balance brought forward Profit available for appropriation Appropriations: General reserve Proposed dividend Corporate dividend tax Balance carried forward to balance sheet

35,925 10,949 24,976 80.042 105.018

16,758 4,571 12,187 70,257 82,444

2,498 1,733 288 100,499

1,219 1,011 172 80,042

Company >> Finance >> Balance Sheet

Maruti Suzuki India Ltd Industry :Automobiles - passenger cars
(Rs in Crs) Year SOURCES OF FUNDS : Share Capital + Reserves Total + Equity Share Warrants Equity Application Money Total Shareholders Funds Secured Loans + Unsecured Loans + Total Debt Total Liabilities APPLICATION OF FUNDS : Gross Block + Less : Accumulated Depreciation + Less:Impairment of Assets Net Block + Lease Adjustment Capital Work in Progress+ Investments + Current Assets, Loans & Advances Inventories + Sundry Debtors + Cash and Bank+ Loans and Advances + Total Current Assets Less : Current Liabilities and Provisions Current Liabilities + Provisions + Total Current Liabilities Net Current Assets Miscellaneous Expenses not written off + Deferred Tax Assets Deferred Tax Liability Net Deferred Tax Total Assets Contingent Liabilities+ 2,939.40 628.40 3,567.80 204.60 0.00 83.60 220.60 -137.00 12,656.50 1,696.70 3,035.80 380.70 3,416.50 2,093.50 0.00 78.90 234.00 -155.10 10,043.80 1,339.60 2,456.20 369.50 2,825.70 272.20 0.00 99.60 269.70 -170.10 9,315.60 2,186.10 2,011.00 1,061.40 3,072.40 1,332.60 0.00 110.10 277.60 -167.50 7,484.70 1,684.40 1,505.80 471.30 1,977.10 1,763.80 0.00 121.10 199.00 -77.90 5,524.30 881.40 1,208.80 809.90 98.20 1,655.50 3,772.40 902.30 937.80 1,939.00 1,730.90 5,510.00 1,038.00 655.50 330.50 1,073.90 3,097.90 701.40 747.40 1,422.80 1,533.40 4,405.00 881.20 646.10 1,401.60 812.00 3,740.90 10,406.70 5,382.00 0.00 5,024.70 0.00 387.60 7,176.60 8,720.60 4,649.80 0.00 4,070.80 0.00 861.30 3,173.30 7,285.30 3,988.80 0.00 3,296.50 0.00 736.30 5,180.70 6,146.80 3,487.10 0.00 2,659.70 0.00 250.70 3,409.20 4,954.60 3,259.40 0.00 1,695.20 0.00 92.00 2,051.20 144.50 11,690.60 0.00 0.00 11,835.10 26.50 794.90 821.40 12,656.50 144.50 9,200.40 0.00 0.00 9,344.90 0.10 698.80 698.90 10,043.80 144.50 8,270.90 0.00 0.00 8,415.40 0.10 900.10 900.20 9,315.60 144.50 6,709.40 0.00 0.00 6,853.90 63.50 567.30 630.80 7,484.70 144.50 5,308.10 0.00 0.00 5,452.60 71.70 0.00 71.70 5,524.30 Mar 10 Mar 09 Mar 08 Mar 07 Mar 06

Company >> Finance >> Profit & Loss

Maruti Suzuki India Ltd Industry :Automobiles - passenger cars
Year INCOME : Sales Turnover + Excise Duty Net Sales Other Income + Stock Adjustments + Total Income EXPENDITURE : Raw Materials + Power & Fuel Cost+ Employee Cost + Other Manufacturing Expenses + Selling and Administration Expenses + Miscellaneous Expenses + Less: Pre-operative Expenses Capitalised+ Total Expenditure Operating Profit Interest + Gross Profit Depreciation+ Profit Before Tax Tax+ Fringe Benefit tax+ Deferred Tax+ Reported Net Profit Extraordinary Items + Adjusted Net Profit Adjst. below Net Profit + P & L Balance brought forward Statutory Appropriations + Appropriations + P & L Balance carried down Dividend Preference Dividend Equity Dividend % Earnings Per Share-Unit Curr Earnings Per Share(Adj)-Unit Curr Book Value-Unit Curr 409.52 323.35 291.19 237.16 188.67 22,363.50 216.60 538.00 308.90 2,122.37 312.73 0.00 25,862.10 4,451.00 33.50 4,417.50 825.00 3,592.50 1,123.00 0.00 -28.10 2,497.60 78.98 2,418.62 0.00 8,004.20 0.00 451.90 10,049.90 173.30 0.00 120.00 85.43 15,763.10 193.60 463.50 254.70 1,553.56 510.24 0.00 18,738.70 2,433.30 51.00 2,382.30 706.50 1,675.80 459.20 9.70 -11.80 1,218.70 146.07 1,072.63 0.00 7,025.70 0.00 240.20 8,004.20 101.10 0.00 70.00 41.57 13,791.50 147.30 346.80 197.80 1,141.28 309.52 0.00 15,934.20 3,130.80 59.60 3,071.20 568.20 2,503.00 759.80 9.80 2.60 1,730.80 61.09 1,669.71 0.00 5,637.30 0.00 342.40 7,025.70 144.50 0.00 100.00 59.03 10,739.00 97.40 266.29 153.50 941.67 264.94 0.00 12,462.80 2,588.80 37.60 2,551.20 271.40 2,279.80 621.40 6.70 89.70 1,562.00 26.71 1,535.29 -8.80 4,393.90 0.00 309.80 5,637.30 130.00 0.00 90.00 53.29 9,335.60 57.20 211.45 141.30 668.56 211.19 0.00 10,625.30 2,055.80 20.40 2,035.40 285.40 1,750.00 587.30 5.70 -32.10 1,189.10 -7.97 1,197.07 0.00 3,442.10 0.00 237.30 4,393.90 101.10 0.00 70.00 40.65 31,947.70 2,848.80 29,098.90 1,020.90 193.30 30,313.10 23,180.60 2,726.90 20,453.70 1,000.10 -281.80 21,172.00 21,025.20 3,133.60 17,891.60 837.10 336.30 19,065.00 17,205.90 2,509.60 14,696.30 598.40 -243.10 15,051.60 14,753.10 2,737.20 12,015.90 429.20 236.00 12,681.10 Mar 10(12) Mar 09(12) Mar 08(12) (Rs in Crs) Mar 07(12) Mar 06(12)

TREND ANALYSIS:
Year SOURCES OF FUNDS : Share Capital + Reserves Total + Equity Share Warrants Equity Application Money Total Shareholders Funds Secured Loans + Unsecured Loans + Total Debt Total Liabilities APPLICATION OF FUNDS : Gross Block + Less : Accumulated Depreciation + Less:Impairment of Assets Net Block + Lease Adjustment Capital Work in Progress+ Investments + Current Assets, Loans & Advances Inventories + Sundry Debtors + Cash and Bank+ Loans and Advances + Total Current Assets Less : Current Liabilities and Provisions Current Liabilities + Provisions + Total Current Liabilities Net Current Assets Miscellaneous Expenses not written off + Deferred Tax Assets Deferred Tax Liability Net Deferred Tax Total Assets Contingent Liabilities+ 1,208.80 809.9 98.2 1,655.50 3,772.40 902.3 937.8 1,939.00 1,730.90 5,510.00 1,038.00 655.5 330.5 1,073.90 3,097.90 701.4 747.4 1,422.80 1,533.40 4,405.00 881.2 646.1 1,401.60 812 3,740.90 10,406.70 5,382.00 0 5,024.70 0 387.6 7,176.60 8,720.60 4,649.80 0 4,070.80 0 861.3 3,173.30 7,285.30 3,988.80 0 3,296.50 0 736.3 5,180.70 6,146.80 3,487.10 0 2,659.70 0 250.7 3,409.20 4,954.60 3,259.40 0 1,695.20 0 92 2,051.20 144.5 11,690.60 0 0 11,835.10 26.5 794.9 821.4 12,656.50 144.5 9,200.40 0 0 9,344.90 0.1 698.8 698.9 10,043.80 144.5 8,270.90 0 0 8,415.40 0.1 900.1 900.2 9,315.60 144.5 6,709.40 0 0 6,853.90 63.5 567.3 630.8 7,484.70 144.5 5,308.10 0 0 5,452.60 71.7 0 71.7 5,524.30 100 100 #DIV/0! #DIV/0! 100 100 #DIV/0! 100 100 #DIV/0! 100 100 #DIV/0! 100 #DIV/0! 100 100 #DIV/0! 100 100 100 100 100 #DIV/0! 2,939.40 628.4 3,567.80 204.6 0 83.6 220.6 -137 12,656.50 1,696.70 3,035.80 380.7 3,416.50 2,093.50 0 78.9 234 -155.1 10,043.80 1,339.60 2,456.20 369.5 2,825.70 272.2 0 99.6 269.7 -170.1 9,315.60 2,186.10 2,011.00 1,061.40 3,072.40 1,332.60 0 110.1 277.6 -167.5 7,484.70 1,684.40 1,505.80 471.3 1,977.10 1,763.80 0 121.1 199 -77.9 5,524.30 881.4 100 100 100 100 #DIV/0! 100 100 100 100 100 100 220.2408 #DIV/0! #DIV/0! 217.0542 36.95955 #DIV/0! 1145.607 229.106 #DIV/0! 210.0412 165.1224 #DIV/0! 296.4075 #DIV/0! 421.3043 349.8732 #DIV/0! 137.1766 125.3521 7.006279 203.8793 100.842 #DIV/0! 195.2052 133.3333 180.4562 11.59995 #DIV/0! 69.03386 110.8543 175.8665 229.106 192.5006 100 173.32756 #DIV/0! #DIV/0! 171.38429 0.13947 #DIV/0! 974.75593 181.81127 #DIV/0! 176.01017 142.65816 #DIV/0! 240.13686 #DIV/0! 936.19565 154.70456 #DIV/0! 102.39446 145.14781 138.34189 213.16502 147.29076 #DIV/0! 201.60712 80.776575 172.8036 118.6926 #DIV/0! 65.152766 117.58794 199.10141 181.81127 151.98548 100 155.816582 #DIV/0! #DIV/0! 154.33738 0.13947001 #DIV/0! 1255.50907 168.62951 #DIV/0! 147.041133 122.378352 #DIV/0! 194.460831 #DIV/0! 800.326087 252.569228 #DIV/0! 117.793917 101.454883 23.5801941 132.253695 82.8116229 #DIV/0! 163.115952 78.4001697 142.921451 15.4325887 #DIV/0! 82.2460776 135.527638 218.356868 168.62951 248.025868 100 126.399277 #DIV/0! #DIV/0! 125.699666 88.5634589 #DIV/0! 879.776848 135.486849 #DIV/0! 124.062487 106.985948 #DIV/0! 156.895941 #DIV/0! 272.5 166.205148 #DIV/0! 79.5960054 115.678688 101.512557 188.842365 117.752413 #DIV/0! 133.550272 225.206875 155.399322 75.5527838 #DIV/0! 90.9165979 139.497487 215.019255 135.486849 191.10506 Mar 10 Mar 09 Mar 08 Mar 07 Mar 06 Base Year(06) For year Mar.10 For year mar.09 For Year Mar. 08 For Year Mar.07

COMPAIRATIVE ANALYSIS OF BALANCE SHEET

Year SOURCES OF FUNDS : Share Capital + Reserves Total + Equity Share Warrants Equity Application Money Total Shareholders Funds Secured Loans + Unsecured Loans + Total Debt Total Liabilities APPLICATION OF FUNDS : Gross Block + Less : Accumulated Depreciation + Less:Impairment of Assets Net Block + Lease Adjustment Capital Work in Progress+ Investments + Current Assets, Loans & Advances Inventories + Sundry Debtors + Cash and Bank+ Loans and Advances + Total Current Assets Less : Current Liabilities and Provisions Current Liabilities + Provisions + Total Current Liabilities Net Current Assets Miscellaneous Expenses not written off + Deferred Tax Assets Deferred Tax Liability Net Deferred Tax Total Assets Contingent Liabilities+

Mar 10 144.5 11,690.60 0 0 11,835.10 26.5 794.9 821.4 12,656.50

Mar 09 144.5 9,200.40 0 0 9,344.90 0.1 698.8 698.9 10,043.80

Mar 08 144.5 8,270.90 0 0 8,415.40 0.1 900.1 900.2 9,315.60

Mar 07 144.5 6,709.40 0 0 6,853.90 63.5 567.3 630.8 7,484.70

Mar 06 144.5 5,308.10 0 0 5,452.60 71.7 0 71.7 5,524.30

Absolute change in Income(Mar.10) 0 2490.2 0 0 2490.2 26.4 96.1 122.5 2612.7 0 1686.1 732.2 0 953.9 0 -473.7 4003.3 0 306.5 -127.9 -1840.8 -75.4 -1737.6 0 -96.4 247.7 151.3 -1888.9 0 4.7 -13.4 18.1 2612.7 357.1

% Change 0 27.0662 #DIV/0! #DIV/0! 26.6477 26400 13.7521 17.5275 26.0131 #DIV/0! 19.3347 15.7469 #DIV/0! 23.4327 #DIV/0! -54.998 126.156 #DIV/0! 33.9687 -13.638 -94.936 -4.3561 -31.535 #DIV/0! -3.1754 65.0644 4.42851 -90.227 #DIV/0! 5.95691 -5.7265 -11.67 26.0131 26.6572

Absolute change in Income(Mar.09) 0 929.5 0 0 929.5 0 -201.3 -201.3 728.2 0 1435.3 661 0 774.3 0 125 -2007.4 0 -135.7 282.3 1608.5 657 2412.1 0 579.6 11.2 590.8 1821.3 0 -20.7 -35.7 15 728.2 -846.5

% Change 0 11.2382 #DIV/0! #DIV/0! 11.04523 0 -22.3642 -22.3617 7.816995 #DIV/0! 19.70132 16.5714 #DIV/0! 23.48855 #DIV/0! 16.97678 -38.7477 #DIV/0! -13.0732 43.06636 486.6868 61.17888 77.86242 #DIV/0! 23.59743 3.031123 20.90809 669.1036 #DIV/0! -20.7831 -13.2369 -8.81834 7.816995 -38.7219

10,406.70 5,382.00 0 5,024.70 0 387.6 7,176.60

8,720.60 4,649.80 0 4,070.80 0 861.3 3,173.30

7,285.30 3,988.80 0 3,296.50 0 736.3 5,180.70

6,146.80 3,487.10 0 2,659.70 0 250.7 3,409.20

4,954.60 3,259.40 0 1,695.20 0 92 2,051.20

1,208.80 809.9 98.2 1,655.50 3,772.40

902.3 937.8 1,939.00 1,730.90 5,510.00

1,038.00 655.5 330.5 1,073.90 3,097.90

701.4 747.4 1,422.80 1,533.40 4,405.00

881.2 646.1 1,401.60 812 3,740.90

2,939.40 628.4 3,567.80 204.6 0 83.6 220.6 -137 12,656.50 1,696.70

3,035.80 380.7 3,416.50 2,093.50 0 78.9 234 -155.1 10,043.80 1,339.60

2,456.20 369.5 2,825.70 272.2 0 99.6 269.7 -170.1 9,315.60 2,186.10

2,011.00 1,061.40 3,072.40 1,332.60 0 110.1 277.6 -167.5 7,484.70 1,684.40

1,505.80 471.3 1,977.10 1,763.80 0 121.1 199 -77.9 5,524.30 881.4

CONTI...

Absolute change in Income(Mar.08) 0 1561.5 0 0 1561.5 -63.4 332.8 269.4 1830.9 0 1138.5 501.7 0 636.8 0 485.6 1771.5 0 336.6 -91.9 -1092.3 -459.5 -1307.1 0 445.2 -691.9 -246.7 -1060.4 0 -10.5 -7.9 -2.6 1830.9 501.7

% Change 0 23.273318 #DIV/0! #DIV/0! 22.782649 -99.84252 58.663846 42.707673 24.461902 #DIV/0! 18.521832 14.387313 #DIV/0! 23.94255 #DIV/0! 193.69765 51.962337 #DIV/0! 47.989735 12.295959 76.771155 29.966088 29.673099 #DIV/0! 22.13824 65.187488 8.0295534 79.573766 #DIV/0! 9.5367847 2.8458213 1.5522388 24.461902 29.785087

Absolute change in Income(Mar.07) 0 1401.3 0 0 1401.3 -8.2 567.3 559.1 1960.4 0 1192.2 227.7 0 964.5 0 158.7 1358 0 -179.8 101.3 21.2 721.4 664.1 0 505.2 590.1 1095.3 -431.2 0 -11 78.6 -89.6 1960.4 803

% Change 0 26.39928 #DIV/0! #DIV/0! 25.69967 11.43654 #DIV/0! 779.7768 35.48685 #DIV/0! 24.06249 6.985948 #DIV/0! 56.89594 #DIV/0! 172.5 66.20515 #DIV/0! 20.40399 15.67869 1.512557 88.84236 17.75241 #DIV/0! 33.55027 125.2069 55.39932 24.44722 #DIV/0! 9.083402 39.49749 115.0193 35.48685 91.10506

COMPAIRATIVE ANALYSIS OF P/L ACCOUNT

Mar 10(12) Mar 09(12) Mar 08(12) Mar 07(12) Mar 06(12)

Year INCOME :

Ab ch in yr m.10

% change

Sales Turnover +
Excise Duty Net Sales

31,947.70 2,848.80 29,098.90 1,020.90 193.3 30,313.10

23,180.60 2,726.90 20,453.70 1,000.10 -281.8 21,172.00

21,025.20 3,133.60 17,891.60 837.1 336.3 19,065.00

17,205.90 2,509.60 14,696.30 598.4 -243.1 15,051.60

14,753.10 2,737.20 12,015.90 429.2 236 12,681.10

Other Income + Stock Adjustments +

Total Income EXPENDITURE :

Raw Materials + Power & Fuel Cost+ Employee Cost + Other Manufacturing Expenses + Selling and Administration Expenses + Miscellaneous Expenses + Less: Pre-operative Expenses Capitalised+
Total Expenditure Operating Profit

22,363.50 216.6 538 308.9 2,122.37 312.73 0 25,862.10 4,451.00 33.5 4,417.50 825 3,592.50 1,123.00 0 -28.1 2,497.60 78.98 2,418.62 0 8,004.20 0 451.9 10,049.90 173.3 0 120 85.43

15,763.10 193.6 463.5 254.7 1,553.56 510.24 0 18,738.70 2,433.30 51 2,382.30 706.5 1,675.80 459.2 9.7 -11.8 1,218.70 146.07 1,072.63 0 7,025.70 0 240.2 8,004.20 101.1 0 70 41.57

13,791.50 147.3 346.8 197.8 1,141.28 309.52 0 15,934.20 3,130.80 59.6 3,071.20 568.2 2,503.00 759.8 9.8 2.6 1,730.80 61.09 1,669.71 0 5,637.30 0 342.4 7,025.70 144.5 0 100 59.03

10,739.00 97.4 266.29 153.5 941.67 264.94 0 12,462.80 2,588.80 37.6 2,551.20 271.4 2,279.80 621.4 6.7 89.7 1,562.00 26.71 1,535.29 -8.8 4,393.90 0 309.8 5,637.30 130 0 90 53.29

9,335.60 57.2 211.45 141.3 668.56 211.19 0 10,625.30 2,055.80 20.4 2,035.40 285.4 1,750.00 587.3 5.7 -32.1 1,189.10 -7.97 1,197.07 0 3,442.10 0 237.3 4,393.90 101.1 0 70 40.65

8,767.10 37.8208502 121.90 4.4702776 8,645.20 42.2671693 20.80 2.07979202 475.10 168.594748 9,141.10 43.1754204 0.00 #DIV/0! 6,600.40 41.8724743 23.00 11.8801653 74.50 16.0733549 54.20 21.2799372 568.81 36.6133268 -197.51 38.7092349 0.00 #DIV/0! 7,123.40 38.0143767 2,017.70 82.920314 -17.50 34.3137255 2,035.20 85.4300466 118.50 16.7728238 1,916.70 114.375224 663.80 144.555749 -9.70 -100 -16.30 138.135593 1,278.90 104.93969 -67.09 45.9300335 1,345.99 125.485023 0.00 #DIV/0! 978.50 13.9274378 0.00 #DIV/0! 211.70 88.1348876 2,045.70 25.5578321 72.20 71.4144411 0.00 #DIV/0! 50.00 71.4285714 43.86 105.50878 0.00 #DIV/0! 86.17 26.6491418

Interest +
Gross Profit

Depreciation+
Profit Before Tax

Tax+ Fringe Benefit tax+ Deferred Tax+

Reported Net Profit

Extraordinary Items +
Adjusted Net Profit

Adjst. below Net Profit +

P & L Balance brought forward

Statutory Appropriations + Appropriations +

P & L Balance carried down Dividend Preference Dividend Equity Dividend % Earnings Per Share-Unit Curr Earnings Per Share(Adj)-Unit Curr Book Value-Unit Curr

409.52

323.35

291.19

237.16

188.67

CONTI.

Ab ch in yr m.09 2,155.40 -406.70 2,562.10 163.00 -618.10 2,107.00 0.00 1,971.60 46.30 116.70 56.90 412.28 200.72 0.00 2,804.50 -697.50 -8.60 -688.90 138.30 -827.20 -300.60 -0.10 -14.40 -512.10 84.98 -597.08 0.00 1,388.40 0.00 -102.20 978.50 -43.40 0.00 -30.00 -17.46 0.00 32.16

% change 10.25151 -12.9787 14.32013 19.47199 -183.794 11.05167 #DIV/0! 14.29576 31.43245 33.65052 28.76643 36.12435 64.8488 #DIV/0! 17.60051 -22.2787 -14.4295 -22.431 24.34002 -33.0483 -39.563 -1.02041 -553.846 -29.5875 139.1062 -35.7595 #DIV/0! 24.62881 #DIV/0! -29.8481 13.92744 -30.0346 #DIV/0! -30 -29.5782 #DIV/0! 11.04434

Ab ch in yr m.08 3,819.30 624.00 3,195.30 238.70 579.40 4,013.40 0.00 3,052.50 49.90 80.51 44.30 199.61 44.58 0.00 3,471.40 542.00 22.00 520.00 296.80 223.20 138.40 3.10 -87.10 168.80 34.38 134.42 8.80 1,243.40 0.00 32.60 1,388.40 14.50 0.00 10.00 5.74 0.00 54.03

% change 22.19762 24.86452 21.74221 39.88971 -238.338 26.66427 #DIV/0! 28.42443 51.23203 30.23396 28.85993 21.19745 16.82645 #DIV/0! 27.85409 20.93634 58.51064 20.38257 109.3589 9.790332 22.27229 46.26866 -97.1014 10.80666 128.7158 8.755349 -100 28.29832 #DIV/0! 10.52292 24.62881 11.15385 #DIV/0! 11.11111 10.77125 #DIV/0! 22.78209

Ab ch in yr m.07 2,452.80 -227.60 2,680.40 169.20 -479.10 2,370.50 0.00 1,403.40 40.20 54.84 12.20 273.11 53.75 0.00 1,837.50 533.00 17.20 515.80 -14.00 529.80 34.10 1.00 121.80 372.90 34.68 338.22 -8.80 951.80 0.00 72.50 1,243.40 28.90 0.00 20.00 12.64 0.00 48.49

% change 16.62566 -8.31507 22.30711 39.42218 -203.008 18.69317 #DIV/0! 15.03278 70.27972 25.93521 8.634112 40.85048 25.45102 #DIV/0! 17.29363 25.92665 84.31373 25.34146 -4.9054 30.27429 5.806232 17.54386 -379.439 31.35985 -435.132 28.25399 #DIV/0! 27.65172 #DIV/0! 30.55204 28.29832 28.58556 #DIV/0! 28.57143 31.09471 #DIV/0! 25.70096

Capital structure
From Year To Year Class Of Share Equity Share Equity Share Equity Share Authorized Capital Issued Capital Paid Up Paid Up Shares (Nos) Face Value Paid Up Capital

2009

2010

372.00

144.46

288910060

144.46

2008

2009

372.00

144.46

288910060

144.46

2007

2008

372.00

144.46

288910060

144.46

Ratio Analysis:Ratio Analysis compares significant numbers from financial statements. Rather than focusing on specific volumes, ratios are indicators of the broad state of our business. What they indicate is dependent upon the nature of our company, comparisons to our companys historical ratio values, and comparisons to competitive companies in the same industry. Financial ratios are useful to us and potential investors because they allow comparisons to be made between our business and others of the same type. There are different types of Ration that divided in different category like which is follow: -

On the basis of Liquidity Ratio

a. Current Ratio b. Quick Ratio c. Liquidity Ratio

Types of Ratios calculated:-

A number of ratios are calculated by companies for evaluating their short and long term performance and also to know liquidity and profitability. Some of the most commonly used ratios

Liquidity ratios:
It can be defined as a ratio that indicates what proportion of a companys assets can be readily converted into cash in the short term. Some of the liquidity ratios are:

y Current ratio:The current ratio is calculated from balance sheet data as current assets/current liabilities. The thumb of rule of current ratio 2:1 .It means that firm can pay its current liabilities from its current assets two times over. Formula: Current ratio= current Assets/current liabilities

Quick ratio:-

Some current assets can be converted into cash more easily than others. Such assets are classified as quick assets. Quick assets include cash, debtors, marketable securities and other assets which can be converted quickly into cash. Its thumb of rule 1:1, the company can meet all its current liabilities at a short notice. The acid test ratio is better indicator of liquidity. Formula: Quick ratio= quick assets/current liabilities

Absolute liquid ratio:-

Absolute liquidity is represented by cash and near cash items. It is a ratio of absolute liquid assets to current liabilities. In the computation of this ratio only the absolute liquid assets are compared with the liquid liabilities. The absolute liquid assets are cash, bank and marketable securities. It is to be observed that receivables (debtors/accounts receivables and bills receivables) are eliminated from the list of liquid assets in order to obtain absolute4 liquid assets since there may be some doubt in their liquidity. Formula: Absolute liquid ratio=Absolute liquid assets/current Liabilities

Liquidity Ratio: This ratio prepares to identify or determine that companys ability to pay off its short-term debts obligation. When if there is higher the value of the ratio it shows that the company able to cover its short-term debts obligation but if not then there is low margin of safety for the company to cover its short-term debts. It is divided in three categories.

a) Current Ratio = Current Assets/ current Liability

For 2009,

Current Ratio = 5510.00 /3,035.80

= 1.82 For 2010, Current Ratio =3,772.40 / 2,939.40 = 1.28

b) Quick Ratio = Quick Assets/Current Liabilities

For 2009, Quick Ratio =2876.8/3,035.80 = 0.95

For 2010 Quick Ratio= 908.10/2,939.40 = 0.31

c) Absolute Quick Ratio= Absolute Quick/ Current Liabilities

For 2009, Absolute Quick Ratio= 1939/3,035.80

=0.64

For 2010 Absolute Quick Ratio= 98.20/2939.40 = 0.034

Credit retings
Maruti Suzuki India Ltd Industry :Automobiles - passenger cars
Rating Date 12-08-2010 12-08-2010 Security Type Debt Progamme Debt Progamme Amount 495 760 Rating P1+ P1+ Rating Type Very Strong With Relatively Higher Standing Very Strong With Relatively Higher Standing The instrument rated AAA are judged to offer highest safety of timely payment of interest and principal. Though the circumstances providing this degree of safety are likely to change, such changes as can be envisaged are most unlikely to affect adversely the fundamentally strong position of such issues. The instrument rated AAA are judged to offer highest safety of timely payment of interest and principal. Though the circumstances providing this degree of safety are likely to change, such changes as can be envisaged are most unlikely to affect adversely the fundamentally strong position of such issues

12-08-2010

Debt Progamme

944

AAA

03-08-2009

Debt Progamme

944

AAA

Issue of IPO/FPO:Initial public offering of 25% of the company in June 2003. As of 10 May 2007 Government of India sold its complete share to Indian financial institutions. With this, Government of India no longer has stake in Maruti Udyog.

Analysed news. 1.Buy Maruti Suzuki; target of Rs 1547: KRChoksey. KRChoksey is bullish on Maruti Suzuki India and has recommended buy rating on the stock with a target of Rs 1547 in its April 1, 2011 research report. Maruti continues to hold dominant position in the passenger car segment with a 51% market share. Maruti Suzuki launched its priciest offering in the sedan segment in India, Kizashi, in the month of February. Also it plans to come out with refreshes of its current models. It is expected to launch a variant of the Swift sometime around diwali with several other products in the pipeline. MSIL has been one of the most aggressive companies in terms of new product launches. The company expects the demand momentum to continue and expects the demand for its products to grow by 15% in the next financial year. The company also says that it is prepared for the increase in demand since its Manesar facility will be operational by start of FY12 taking the total production to 1.4 million units/annum.

2. MarutiSuzukislipsnearly5%onBSE Auto sector, following the disaster earthquake and tsunami that hit Japan last Friday. The investors seem to have lost their confidence about a possible setback to the global economic recovery following the massive earthquake in Japan. Investors became more scared after third explosion at nuclear plant in northern region of Japan and Japan Prime Minister announcement that the possibility of radioactive leakage is increasing following Japan's earthquake hit Fukushima nuclear power plant. The Automobiles companies were concerned about the imports from Japan which seems to fall after the disaster in Japan which can hamper the Indian cars market margin. Further the interest rate hike by 25 bps by apex bank alsoled to the fall across interest rate-sensitive auto and realty sectorsThe BSE Auto closed at Rs. 8,648.95 down by 179.19 or by 2.03%. The main losers were Maruti Suzuki (3.55%),Exide Inds (2.73%), M&M (2.67%) and Tata Motors (2.18%). The major loser Maruti Suzuki slipped by 4.7% to an early low of Rs 1,200.05 on the Bombay Stock Exchange inearly trade and closed at Rs. 1,214.50 down by 44.75 points or by 3.55%.The BSE Realty closed at Rs. 2,053.69 down by 66.50 or by 3.14%. The main losers were HDIL(5.51%),Orbit Corp (4.7%), Mahindra Lifesp (4.67%) and D B Realty (3.94%).

3. Maruti Suzuki sales up 26% in March The company reportedly sold a total of 1,21,952 (including exports) units in March, 2011 as against 95,123 units for the corresponding year ago period; this was equivalent to a growth of 28.2%. Under every division of the companys passenger car segment namely A1, A2, A3 and A4, a growth was reported. A1 (Maruti 800) saw a hike of 5.5%, from 2,762 units in March, 2010 to 2,915 units in March, 2011. A2 (Alto, Wagon-R, Swift, Zen, A-star and Ritz) reported a hike of 5.5%, from 54,763 units in March, 2010 to 78,460 units in March, 2011. In addition A3 (SX4 and Dzire) grew by 33% from 10,543 units in March, 2010 to 13,910 units in March, 2011. The enterprises sales for the van type segment grew by 32.6%, however a drop was seen in the sales of MUV segment, where sales dipped by 8.4%. And its total passenger car sales surged 40.32 % to 95,388 units in March, 2011 from 67,978 units for the corresponding year ago period. In addition the press release showed that the auto firms sales outlets increased from 802 to 933, also the cities covered by sales network jumped from 555 in 2010 to 666 in 2011. Currently on the Bombay Stock Exchange (BSE), stocks of the firm are trading at Rs. 1275.30 up by 0.93% or by Rs. 11.75. The stock has seen an intraday high of Rs 1290.50 and a low of Rs 1248.00, so far. Thetotal traded value of the scrip so far is Rs 7.97 crore

4. Maruti Suzuki raises prices of cars Maruti Suzuki raises prices of its vehicles across all models across the country. The company said that it has increased prices up to Rs 9,000 to counterbalance the increasing input cost. In all company sell 15 models in India, beginning from M800, entry level small car with starting price of Rs 1.97 lakh to its most recent launched sports car sedan Kizashi, priced upto Rs 17.5 lakh (ex-showroom Delhi). Initially the company has increased its prices between 0.5 to 2.2% in January and this is the second time in same year the company has raised the prices of its vehicles. Along with MSIL, Tata Motors have also increased the cost of few selected passenger vehicles as well as utility vehicles and it hike in prices will be operational from April 1. Manufacturers in the auto industry are bound to increase the prices due to rising input costs. Declare 5. Maruti Suzuki's sales up 15.5 percent in February Maruti Suzuki has announced its month sales record for February, 2011. The company has informed that there has been an impressive rise of 15.5 percent in its sales for the month of February. It has managed to sell 1,11,645 units in this month. It has also exported 10,102 units during this period. There has been a remarkable rise of 19.8% of the sales of the firm in the domestic market. It has managed to sell 1,01,543 units for the month of February this year in the local market, as compared to 84,765 units in the same month a year ago. Last year, the company had exported 11,885 units in the month of February which is informed to be 10,102 units this year for the same month. So that maruti can generate more revenue from the market. 6. Profit of Maruti Suzuki Falls Indias largest carmaker Maruti Suzuki Ltd. Has suffered an 18 percent drop in their profit levels during the third quarter profit calculation. The Yen is getting strong on the rupees. The

higher royalty payments and increased raw materials had hampered their profit margin. According to a statement released by the company, the net income fell to 5.65 billion rupees in the first 3 months ended from Dec 31st from the previous 6.87 billion rupees a year ago. The sales however gained 27 percent to 92.7 billion rupees. The competition market is getting high with many different carmakers expanding their factories in India. Maruti has been seeing pressure on its margins from increased commodity prices, Maruti lost around 1,229.35 rupees in Mumbai. It was equivalent to 3.2 percent. The Maruti stocks dropped 14 percent this year. Maruti paid 5.2 percent of its rent as royalty of its net profits as claimed by the Chief financial Officer. 7. Maruti to sustain its market share by opening elite showrooms Maruti Suzuki India, the leader in the Indian auto industry is doing towards maintaining its turf in the upmarket is it. The industry experts are witnessing varied changes in Maruti to sustain its stake in this highly competitive market. It is being learnt that Maruti Suzuki has purchased properties in various metros and developing showrooms to attract the cash-rich buyers. The change is huge to maintain its abating market share. The company wishes to shed away its traditional model image and wear the all new upmarket brand image. Higher Authority of Maruti Suzuki India said that the company wishes to start a retail format which will help them to reach out to the customers on the high retail prices. The company has purchased various properties by spending almost Rs 50-60 crore in Mumbai. He added that it is not in the range of the local dealers so the company has managed to get the right locations. However issues such as sales and services will be dealt by the dealers.

8. Correction in Maruti share may be over, analysts say Shares of Maruti Suzuki India, which have been on a slippery road in recent weeks, rebounded 3.6% Tuesday to close at Rs 1,171.85, after the management clarified that the earthquake and Tsunami in Japan would not have any impact on its production here. Some analysts say that the recent selling may have been overdone. The companys shares fell almost 10% in last 8-10 days, over worries that an appreciating yen would hit margins, and any production impact in Japan would hurt Indian output. Company production out here has not had any impact on what has happened in Japan. The (share) correction phase is over. Investors have got some confidence back post the management comments, Vineet Hetamsaria, vice-president (research) at Pinc Research said. Last weeks share price fall was just an immediate reaction to the Japanese disaster, Yaresh Kothari, analyst at Angel Broking said. Investors also cheered managements optimism that the margins would be maintained if yen remained stable going ahead.The Japanese currency had appreciated sharply after the earthquake and Tsunami struck as more yen was withdrawn to fund redevelopment projects

in Japan. Incident of japan has impact on the share of maruti due the change in the value of currency.

9. Maruti Suziki shares down over products recall Share price of Maruti Suzuki falls by around 1.5 pc on BSE and was trading at Rs 1278.75 per share. While on NSE the stock was down by 1.80 pc and trading at Rs 1277. stocks felt the heat of the announcement in which Maruti Suzuki said that it will recall 13,157 diesel variants of sedan Swift Dzire, to replace a faulty engine part. This is Maruti's third major recall in the past one year. Its A-Star model had a problem in the fuel tank forcing the company to carry out necessary rectifications in 100,000 units across domestic and overseas markets in February 2010. Such a major steps is taken by maruti to continue with the reputation they have made globally. Because if they would have not taken such a long term faith building steps this would have led impact them a lot in negative way. And no doubt there shares would have gone down which would have cause them a great loss.

10. Maruti Kizashi completes 500 bookings, delivery to start soon

Newly launched Maruti Kizashi the first premium car from Maruti is slowly making good progress. The company has already completed 500 bookings for the car and delivery will be completed in 3-4 months time. The delivery of Maruti Kizashi is expected to start after 2 weeks. Available at price of Rs. 16.5 lacs, Maruti Kizashi will compete against existing premium cars like Honda Accord, VW AG's Jetta and Toyota Camry. Despite being leader in Indian auto industry with market share of 45 per cent, Maruti has very minor share of 3 per cent in premium segment. And definitely this car which is launched to rise the share market of maruti in premium segment is definitely going to work for maruti and will help maruti to raise its share of 3% in premium segment.

Reference:-

http://en.wikipedia.org/wiki/Maruti_Suzuki http://www.bseindia.com/bseplus/AnnualReport/532500/5325000310.pdf http://www.articlesbase.com/advertising-articles/journey-of-maruti-suzuki-568992.html http://www.capitaline.com/user/framepage.asp?id=1 http://money.rediff.com/companies/maruti-suzuki-india-ltd/10520005/capital-structures News: http://www.moneycontrol.com/news/recommendations/buy-maruti-suzuki-targetrs-1547krchoksey_533587.html http://m.economictimes.com/PDAET/stocknewsdisp.cms?newsid=492152&ticker=marusu http://m.economictimes.com/PDAET/stocknewsdisp.cms?newsid=496474&ticker=marusu http://www.stockwatch.in/maruti-suzuki-raises-prices-cars-28810

http://www.stockwatch.in/maruti-suzukis-sales-155-percent-february-28686
http://www.stockwatch.in/profit-maruti-suzuki-falls-28612

http://www.cardekho.com/india-car-news/maruti-to-sustain-its-market-share-by-openingelite-showrooms-3600.htm http://www5.moneycontrol.com/news/business/correction-maruti-share-may-be-overanalystssay_531205.html http://articles.economictimes.indiatimes.com/2011-04-07/news/29392543_1_swift-dziresmall-car-swift-hatchback

http://ic-technews.com/automobiles/4084-maruti-kizashi-completes-500-bookings-delivery-tostart-soon